The Real Deal New York

Ackman buys $22M Bridgehampton manse

February 17, 2011 09:23AM

Billionaire hedge funder William Ackman, who runs Pershing Square Capital Management, has added a $22 million Bridgehampton estate to his personal portfolio. According to the Post, the eight-bedroom beachfront home sits on six acres with a tennis court and views of Sagg Pond. The Corcoran Group’s Susan Breitenbach had been marketing the property for just under $26 million. But while Ackman may have scored a deal on the East End, his bet on bookseller Borders fell flat yesterday, when the company filed for bankruptcy. Pershing’s stake — it bought 5.1 million shares of the company in 2006 at between $18 and $20 per share — will likely be wiped out in the reorganization, Bloomberg News reported. [Post] and [Bloomberg]

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